Weld County in northeast Colorado is poised to see a record for oil production.
For 2017, production through November is sitting at more than 105 million barrels of oil. When December numbers are counted that could easily go up to 116 million barrels of oil produced out of the county, an all-time high.
The Greeley Tribune reports the current record of 109 million barrels of oil was set in 2015.
Don Warden, county finance director, says 2017’s oil and gas production likely will boost Weld’s assessed valuation by 5 percent to 6 percent for the 2019 budget.
Weld’s largest oil and gas operator, Anadarko Petroleum, plans to spend $950 million this year in the Denver-Julesburg Basin, which essentially covers all of Weld County.
The report comes as lawmakers hear a bill that would give local communities more authority to regulate wells, and Colorado braces for a governor’s race that could pit Big Oil against Democratic candidates who want to wean the state completely off fossil fuels by 2040.